Selling a home without a real estate agent entails risks. However, it can be equally rewarding for those who have acquired considerable knowledge about the industry.
Here at For Sale For Lease, we welcome first time home sellers who are more than ready to take on the market and advertise their property by themselves.
We’ve been walking you through the entire process. So far, we’ve covered necessary steps like renovation, inspection, valuation and everything in between. Most recently, we’ve taught you how to list your property like a pro.
Now that your ad is up and running, it’s time to respond to buyer enquiries.
Hold on a second. It’s not as easy as shooting them an email back. In fact, there are necessary steps you need to take in order to sift through buyers carefully and find that one person who is serious about purchasing your property.
Let’s get started.
ANSWER RIGHT AWAY
“Time is of the essence” couldn’t be truer in situations like this. Every enquiry left unanswered is every prospective buyer out the door. The very first and obvious step is to answer right away.
Of course, you can’t be in front of your ad 24/7, waiting for someone to ask about it, right? That’s why there are different ways to go about it. One is to set your e-mail with an auto responder. This tool is one that comes extremely handy especially if you’re a very busy person who could be out and about all day. When someone sends you an email about the property, the auto responder will do the replying for you until such time you can personally attend to the enquiries. The best part is you can customize your auto responders as you see fit.
When you are contacted via text message or call, be sure to leave them a reply right away. If you’re preoccupied at the moment, still send a short response informing the buyer that you’d receive their enquiries.
Remember: You should never make anyone wait. As soon as someone asks about the property you’re selling, you must find a way to answer instantly. Even real estate experts go as far as saying one should respond within an hour.
Many legal disputes in real estate stems from the fact that sellers were not completely transparent about the property they put up for sale. Countless cases like these have caused people insurmountable damages. However, it’s one situation that’s completely avoidable, thanks to a little thing called honesty.
When people ask about the house you’re selling, be honest. Disclose all the necessary information when it is requested and don’t omit any details you know could be vital to the buyer’s decision making.
Are there current issues in your area’s drainage system? Is your area prone to landslides, flashfloods and other disasters? Is there an undergoing construction beside your property? — All these and more matter to prospective buyers. If you fail to tell them of such important details, you may be in for a very dirty and costly dispute.
ASK THE BUYER QUESTIONS
Who says the buyers are the only ones who could do the asking? Efficient sellers are not afraid to ask buyers especially now that you want to qualify that prospective buyer as a warm or cold lead.
Is the buyer familiar with your area? Why did s/he decide to move in your area? Are they from the area where the property is? Has the buyer been looking for a property for a while now? Are there any special requests that could come with the purchase?
As a seller, you don’t want to waste your time on buyers who are simply not that serious. This is particularly crucial if you need to sell that property as soon as possible. Do not skip this part, as it is critical to the qualifying process.
QUALIFY THE PROSPECTIVE BUYERS
Homebuyers are typically categorized into two: Full Boil and Slow Cooker. Full boil buyers are the ones who are more than ready to invest on a property. Slow cookers, on the other hand, aren’t in a hurry to purchase a home.
At this point, you need to qualify the leads you get as either full boils or slow cookers. The one that will work better also depends on you as a seller. Are you in a hurry to sell your property? Do you want to take the time in choosing the most apt buyer out there?
Either way, the idea is to keep track of the enquiries you get and continuously classify them. This makes the follow up procedure much less tedious.
So you’ve answered all enquiries you’ve received. If you haven’t received any responses from the possible buyers, it’s a good idea to follow up. A day or two is an ideal timeframe in double-checking the buyer’s interest. If they still do not reply, a twice and final follow up could be made.
The bottom line is to be assertive but not too pushy. If these buyers do not get back to you, wait for the next ones. If your ad is cleverly executed, there will be more interested buyers who would want to purchase your property.
Enquiries are always a good sign. The important thing is to be patient, enthusiastic and hardworking. Remember: This industry doesn’t equate to instant gratification. If you follow all the necessary steps, it won’t be long until someone sees your property as their next dream home.